Equities analysts predict that Union Bankshares Corp (NASDAQ:UBSH) will announce earnings per share (EPS) of $0.54 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Union Bankshares’ earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.53. Union Bankshares posted earnings of $0.44 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 22.7%. The company is expected to report its next earnings report on Wednesday, April 18th.
According to Zacks, analysts expect that Union Bankshares will report full-year earnings of $2.51 per share for the current financial year, with EPS estimates ranging from $2.42 to $2.55. For the next fiscal year, analysts forecast that the firm will report earnings of $2.89 per share, with EPS estimates ranging from $2.72 to $3.00. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Union Bankshares.
Union Bankshares (NASDAQ:UBSH) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The company had revenue of $90.64 million for the quarter, compared to analyst estimates of $91.35 million. Union Bankshares had a return on equity of 8.12% and a net margin of 18.15%.
UBSH has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, October 21st. Brean Capital restated a “hold” rating on shares of Union Bankshares in a research report on Tuesday, October 24th. BidaskClub downgraded shares of Union Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Finally, Sandler O’Neill set a $39.00 price objective on shares of Union Bankshares and gave the company a “hold” rating in a research report on Thursday, January 4th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Union Bankshares has a consensus rating of “Buy” and an average price target of $41.80.
In other news, EVP John G. Jr. Stallings acquired 1,373 shares of Union Bankshares stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average price of $36.22 per share, for a total transaction of $49,730.06. Following the completion of the transaction, the executive vice president now directly owns 9,582 shares in the company, valued at $347,060.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.18% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its position in shares of Union Bankshares by 8.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,789 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 307 shares during the period. US Bancorp DE lifted its position in shares of Union Bankshares by 101.5% during the 4th quarter. US Bancorp DE now owns 4,263 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 2,147 shares during the period. Virtu Financial LLC acquired a new stake in shares of Union Bankshares during the 4th quarter valued at approximately $201,000. BB&T Securities LLC acquired a new stake in shares of Union Bankshares during the 4th quarter valued at approximately $205,000. Finally, Amalgamated Bank purchased a new position in shares of Union Bankshares during the 4th quarter worth approximately $209,000. Institutional investors own 64.98% of the company’s stock.
Shares of Union Bankshares (UBSH) traded up $0.24 on Friday, hitting $38.29. 380,620 shares of the stock traded hands, compared to its average volume of 456,822. Union Bankshares has a twelve month low of $29.50 and a twelve month high of $39.37. The firm has a market capitalization of $2,470.56, a P/E ratio of 22.93 and a beta of 1.21. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.42.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Tuesday, February 6th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, February 5th. This represents a $0.84 dividend on an annualized basis and a yield of 2.19%. Union Bankshares’s payout ratio is currently 50.30%.
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About Union Bankshares
Union Bankshares Corporation is a financial holding company and bank holding company. The Company operates through two segments: a community bank segment and mortgage loan origination business segment. The Company offers financial services through its community bank subsidiary, Union Bank & Trust (the Bank) and three non-bank financial services affiliates.
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